Swiss industrialist Givaudan, a global specialist in fragrances and beauty products, has announced the successful acquisition of a majority stake in the Saltinho, Brazil-based perfume house Vollmens Fragrances.
Founded in 2004 and specializing in fragrances, Vollmens Fragrances (180 employees) not only serves the Latin American market, but is also extending its operations to Central America, Africa and North America. This acquisition is part of a strategy to expand its presence with local and regional customers.
Nestor Francisco Mendes and Rinaldo José Mendes, members of the founding family, will continue to manage Vollmens under the agreement with Givaudan.
"I am very pleased to welcome the Vollmens team to the Givaudan family. With their great creativity and local market knowledge, this partnership will further strengthen our business in the high-growth markets of Latin America, and we look forward to working together."says Gilles Andrier, Managing Director of Givaudan.
"The completion of this acquisition is a great achievement for Givaudan and marks the beginning of a promising new chapter. By combining our creative and innovative capabilities, we will leverage the complementary strengths of Givaudan and Vollmens Fragrances to offer the best fragrances to customers and partners in the region".says Maurizio Volpi, President of Givaudan Perfumes and Beauty.
Although the terms of the agreement are not disclosed, the Vollmens Fragrances S.A. business would have contributed around CHF 25 million in additional sales to Givaudan's results in 2024 on a pro forma basis. Givaudan plans to finance the transaction from existing resources. Under the terms of the agreement, Givaudan and the Vollmens founding family have the option of further increasing Givaudan's stake in the future.
Photo from Vollmens' Linkedin page.
